According to reports, Acer is set to launch a $99 tablet next year. Source claims to have direct knowledge of the project and offered up some specifications on the rumored tablet.

The Iconia B1 tablet will reportedly have a seven-inch display with a resolution of 1024x600 and will feature a 1.2 GHz dual-core processor. This would give it similar specs to the Amazon Kindle Fire.

The Kindle Fire is priced at about $139 right now. If Acer launches the tablet with very similar performance at a price of $99, it would likely be very popular. One big caveat, however, is that the device is reportedly aimed at emerging markets. The Wall Street Journal reports that the tablet has been submitted to the FCC for clearance but it remains unclear if Acer will offer the tablet for sale in the U.S.

Other sources are also claiming that Acer plans to launch a cheaper version of its Windows 8 tablets running Intel processors. The source says that the price cut is being made because the tablets are currently "too pricey."